REGISTERED NUMBER: 11365327 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JUNE 2025 TO 20 FEBRUARY 2026

FOR

GRAND AVENUE ESTATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A H Haagman

H Yeganeh-Toussi

REGISTERED OFFICE:

15 West Street

Brighton

East Sussex

BN1 2RL

REGISTERED NUMBER:

11365327 (England and Wales)

ACCOUNTANTS:

Galloways Accounting Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Tangible assets

3

39,695

34,653

Investment property

4

23,051,557

32,037,137

23,091,252

32,071,790

CURRENT ASSETS

Debtors

5

2,453,335

671,538

Cash at bank

2,559,529

133,279

5,012,864

804,817

CREDITORS

Amounts falling due within one year

6

12,621,357

13,767,952

NET CURRENT LIABILITIES

(7,608,493

)

(12,963,135

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,482,759

19,108,655

CREDITORS

Amounts falling due after more than one year

7

(1,089,828

)

(3,774,341

)

PROVISIONS FOR LIABILITIES

(9,923

)

(8,663

)

NET ASSETS

14,383,008

15,325,651

CAPITAL AND RESERVES

Called up share capital

14,243,310

14,243,310

Retained earnings

139,698

1,082,341

14,383,008

15,325,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 20 February 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 20 February 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 May 2026 and were signed on its behalf by:

A H Haagman - Director

H Yeganeh-Toussi - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Turnover

Turnover represents the following types of income

- Rental income

- Income from the sale of properties

All income is recognised on a receivable basis.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2025 - 2 ) .

3.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 June 2025

and 20 February 2026

76,399

DEPRECIATION

At 1 June 2025

41,746

Charge for period

(5,042

)

At 20 February 2026

36,704

NET BOOK VALUE

At 20 February 2026

39,695

At 31 May 2025

34,653

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2025

and 20 February 2026

75,400

DEPRECIATION

At 1 June 2025

41,212

Charge for period

(5,229

)

At 20 February 2026

35,983

NET BOOK VALUE

At 20 February 2026

39,417

At 31 May 2025

34,188

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2025

32,037,137

Additions

8,611

Disposals

(8,994,191

)

At 20 February 2026

23,051,557

NET BOOK VALUE

At 20 February 2026

23,051,557

At 31 May 2025

32,037,137

Fair value at 20 February 2026 is represented by:

£

Valuation in 2026

23,051,557

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

15,000

-

Other debtors

2,400,840

650,840

Directors' current accounts

34,995

-

Prepayments

2,500

20,698

2,453,335

671,538

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts

12,346,440

13,450,593

Hire purchase contracts

8,757

8,757

Tax

52,072

26,439

Social security and other taxes

-

208

Other creditors

130,000

130,000

Directors' current accounts

-

4,383

Accruals and deferred income

30,157

43,180

Accrued expenses

53,931

104,392

12,621,357

13,767,952

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Bank loans - 1-2 years

-

3,967

Bank loans - 2-5 years

-

3,724,707

Bank loans more 5 yr by instal

1,050,000

-

Hire purchase contracts

39,828

45,667

1,089,828

3,774,341

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,050,000

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Bank loans

13,396,440

17,179,267

Creditors: amounts falling due within one year and Creditors: amounts falling due after more than one year includes the above liability for which security has been given by the company.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 20 February 2026 and the year ended 31 May 2025:

2026

2025

£

£

A H Haagman

Balance outstanding at start of period

(1,087

)

(1,087

)

Amounts advanced

19,793

10,000

Amounts repaid

-

(10,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

18,706

(1,087

)

H Yeganeh-Toussi

Balance outstanding at start of period

(3,295

)

(3,087

)

Amounts advanced

19,793

10,000

Amounts repaid

(209

)

(10,208

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

16,289

(3,295

)

These balances represented the maximum amount outstanding during the period and the loans are interest free and repayable on demand.

10.	RELATED PARTY DISCLOSURES

Companies under common control

Amount due from

Amount due to

£

£

Opening balance

600,000

-

Amounts advanced

4,250,000

-

Amounts repaid

(2,500,000

)

-

Closing balance

2,350,000

-

These balances are included within debtors.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Haagman and H Yeganeh-Toussi.

This was by virtue of their 100% holding of the issued share capital.

12.	ACCOUNTING BASIS

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. During the period the company made a loss of £915,800, and as at the year end the current liabilities exceeded current assets by £7,608,493.

The validity of this basis depends upon the continued support of the company's directors. The directors confirms that they will give the required support.